10 Tips for Choosing a Business Name

Registering a business name is a legal requirement if you plan to conduct business using a business name other than your own personal name, even if it’s similar.

Choosing a business name can be tricky. The main focus of a business name is to let your customers know about your brand and the products and services you are offering, but it also needs to be catchy and memorable. Select a name that is not only unique but also easy to remember.

Here are a few tips to keep in mind when starting the naming exercise:

1. Be descriptive and interesting: Strike a balance between a name that is interesting and descriptive. For example, ProVolt Electrical is more interesting than Sydney Electrical Services, but it is also clear that the business is electrical services.
2. Use words creatively: General or common words will make it hard to find your business name on search engines because there will be lots of competition for those keywords. So try a play on words or spell it differently. Examples are Flickr or Compaq.
3. Pick a simple name: Do not make the name too long or complicated as it has to appeal to customers. It should bring up positive emotions among potential customers and be easy on the mind and pronounce. It’s good to be creative but do not overdo yourself with tongue-twisters. Additionally, until you’re established, steer clear of acronyms, which may be difficult for customers to remember.
4. Differentiate yourself from competitors: Avoid names that match or are too close to what your competitors have in the industry. It will be considered unoriginal and will not help create a brand image for your business. Potential customers might confuse your business with others, making it difficult to get repeat business or referrals.
5. Do not use your name: Avoid using your name as the business name unless you have built up a brand on it. Your name does not inform customers anything about your products or services. Further, with a business on a personal name, you might face issues if you want to sell it in the future or branch out into untapped areas. There are some exceptions on this point, however. Some of the world’s most famous fashion brands operate under the designer’s name.
6. Select a scalable name: Choose a name that will take all aspects of your business when expanding. If you are selling a specific product now, keep the doors open to venturing into unrelated areas or divisions. At that point, the business name should also embrace the new products or services. Hence, a business name must keep provision to take in future growth.
7. Test the name: Before finalising the name, test it on Google AdWords using the “find keywords” tool. You will get details of similar search phrases and how many searches it is getting monthly, either locally or internationally. AdWords searches with your intended name will also bring out other names that are slightly different but are getting more attention on the internet. You will do well to stay clear of that name.
8. Get feedback: Make a list of 5 to 10 names and then run them through your trusted people like family members, friends, and colleagues who will not shy away from giving you their honest opinion. If possible, get feedback from your target audience as well. Ensure that you do not come up with something with a negative meaning in an attempt to have a fancy and exotic name. Remember the gaffe of General Motors naming one of their cars Nova which in Spanish means “doesn’t go”!
9. Call out the name aloud: Often, a name appears good on paper but awful when called out aloud. Avoid these names, as a lot of brand awareness is created through word-of-mouth, and your business name should sound good when discussed in any forum. People should also not have any confusion about how it is spelled when mentioning it aloud.
10. Make sure you can secure the domain name: You might have a brilliantly creative business name idea, but if you can’t secure the same domain name (website address name), you might have trouble marketing it online. Before picking your business name, Namecorp can help you check what domain names are available and secure your preferred one before anyone else can.

You might spend hours brainstorming for a suitable name for your business or enlist the help of a Namecorp specialist who has experience choosing successful business names.

Are You Happy With The Business Name?

Finally, are you happy with the selected brand name as a business owner? You have to live with the name for years, so make sure that it gives you a positive vibe, makes you proud, and strongly believes it will resonate with your customers too. Take your time, but get it right from the start.

Get Your Business Name Registered

Once you’re ready with your business name, register it so you can start trading. Namecorp can help you register your business name, set up an ABN, register a trademark or GST, and secure your domain name in one easy application.

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